Tether has recently announced a significant $100,000 grant to the BTCPay Server Foundation, showcasing its strong support for the free and open-source software movement.
The BTCPay Server Foundation is well-known for its open-source payment processor software, which is widely used and customized by merchants and businesses around the world to facilitate transactions in Bitcoin (BTC) and USDT.
Paolo Ardoino, the CEO of Tether, emphasized that this grant underscores the company’s unwavering dedication to fostering the growth of open-source technology. He stated, “Our grant to the BTCPay Server Foundation highlights Tether’s commitment to the open-source community and our belief in the transformative potential of technology.”
The BTCPay Server Foundation, recognized for its advocacy of financial privacy and freedom, warmly welcomed Tether’s support. This grant will enhance BTCPay Server’s ability to innovate and expand, aligning with its goal of providing a secure, private, and censorship-resistant platform for payment processing.
Rockstar Dev, a Core Contributor and founding member of BTCPay Server, expressed gratitude for Tether’s acknowledgment of the project’s importance. “I’m grateful to Tether for acknowledging the significance of BTCPay Server as a Bitcoin FOSS project and for its generous grant,” the developer said. “This contribution greatly empowers us to focus on our mission: enabling anyone to accept Bitcoin, without being hindered by geographic, political, or financial barriers.”
In addition to this grant, Tether has achieved a significant milestone with its USDT stablecoin exceeding $100 billion in circulation, driven by the growing demand for Bitcoin. Despite a slight adjustment and a temporary value surpassing $1, Tether’s reserves reached $97 billion in December, primarily invested in short-term U.S. Treasury bills.
